Comment

Comment by Douglas Newberry on October 7, 2011 at 4:18pm

So, let me get this straight... I make software for people on Wall Street... I come right out and blow their scam wide open for you, the people, with facts... and now I am a bad guy?

It seems to me I have enormous integrity to expose the scam of banking... even if you think it is against my own interest?

To you JL I say... none are more enslaved that those who falsely believe that they are free... I show you to the door that lets you out of prison, and I am a bad guy... a "cheater"?

Get real.

Maybe I should have been more clear... I make software for traders... not mortgage banks. I help people to make money on Wall Street. Trading stocks is not the evil here... a dishonest financial system is the evil here.

Even if we had honest money, we would still have a stock market and people need tools to help them trade better. I have no problem speaking out against injustice. It is my duty as a human to help those who need information and do not have it.

I will not lose a single wink of sleep knowing that you do not approve of honesty.

Comment by JL Gawlik on October 7, 2011 at 4:04pm

Douglas Newberry stated: 'Trust me when I tell you that you have all been duped by the banks... I know. I make software for Wall street and have been in this business for 13 years.'

Then you are not a very principled person with high ethics or integrity if you make a living off of the very people, you are speaking against. Perhaps your behavior is more to the point of what is wrong with our country?

Try reading 'Winners never Cheat' by Jon Huntsman Sr.

Comment by Steve Tikas on October 7, 2011 at 4:01pm

Well said Mr. Newberry.

 

Mr. Robb you are right corporations don't pay taxes and never will.  That is why raising taxes on them is just going to hurt the poor and middle class.  The only way to help the poor and middle class is by creating jobs and getting them back to work.  That will also help tax receipts as well as getting people off the public doll.  Tax cuts along are not going to do it and neither is spending by itself.  Just think 14 million unemployed, and that is not even talking about the ones that have given up and you have a huge net drain on the economy and no tax money coming in from those people.  At best they are putting money into state sales tax when they buy something but if that money is coming from unemployment it is being taken out from the tax receipts before only a fraction is put back in.

 

Like Mr. Douglas said though the root of all of these problems is money and the root of our money problems starts and ends with the Fed.  That is why the OathKeepers are calling for an Occupy the Fed movement.

Comment by amanda choate on October 7, 2011 at 3:58pm

I do not expect corporations to "take the hit". It is not their job, their job is to make profit and pay their executives outlandish salaries that are not based on P/L statements. I realize that. I am not stoopid. That is why a government that is responsive to a constituency made up of people and corporations is necessary. We see what happens when we get one that just focuses on corporations. This.

Comment by Dann Robb on October 7, 2011 at 3:44pm

"Poor people don't make enough to qualify to pay taxes. US corporations have 70,000 pages of loopholes built into the tax code, so they don't pay. Banks have never paid. Hedge fund operators pay half the rate I do yet their income exceeds mine a thousand times over. So yes at some point you have to pick sides. And I am standing with the working man."-Amanda Choate

Hi Amanda, and thanks for standing with me, a working man. In fact most people who post here are just that, working people. Perhaps some earn a bit more than others, but no worries, misery lies at trying to see what others have in their wallets. About those poor not "qualifying"? Why is that? The progressive tax code for one, and they certainly qualify to take advantage of those who do "qualify". I live off of 110th St, in the Westside...come meet some of my neighbors, and see how your tax dollars are being spent...it's enlightening. As for those nefarious "corporations" and "their" taxes and loopholes, once again our cumbersome progressive tax code comes into play. Corporations are legal entities and do not pay taxes at all. How's that for stiffing the proles? In fact only individuals pay taxes (that "qualify" of course). No business is going to eat the cost of higher taxation or the cost of regulation. The added expense will be passed along to the consumer of the product or service, to the employees via atrophied wage growth, to the investor through lower dividends, et al... Until that basic concept is grasped and understood, their is no point in a "debate". You may wish the corporations would just pony up the money and take the hit to their margin, but it's not going to happen. Ever. Sorry.

Comment by Douglas Newberry on October 7, 2011 at 3:40pm

 

WOW, is all I can say when I read comments like this... 

"No down payments mean no skin in the game, and it makes it easier for all these folks to walk away (the purpose of a downpayment is for you to share the risk with the bank instead of the bank having all the risk of default on their shoulders. " 

Clearly Patricia has no idea how banking works. Banks do not take a risk when making a home loan, they CREATE new money and then PRETEND they made a loan to you.

Banks do NOT make loans... oh sure, they call them "loans" but in reality they are creating NEW money out of thin air, and charging interest as IF they were actually "at risk". 

The whole argument about "people buying homes they could not afford" is utter bullshit!

Please, please wake up to the truth people. 

When the financial "crisis" started 94% of all mortgages were being paid on time... how do you imagine that 6% of people in default could bring down the global financial system?  

It cannot!

The problem is that banks leveraged these laons 30... even 40 to 1, they dont even hold thes notes on their books... they packaged them into mortgage backed securities and sold them off to "investors", like your pension fund. 

This is where a financial crisis is created... by bankers... NOT the people who could not afford the homes they were in.

Let me ask you this... Is it possible to have irresponsible borrowing without irresponsible lending?

NO! 

It pains me to even try and have intelligent discussions with people who have no idea how the system even works.

There is just one issue that is the kingpin of all political issues. Monetary reform! 

Every political discussion is, in the end, about money... taxes, spending, etc... and people on both sides have no idea what money even is. 

I will tell you... MONEY IS DEBT!, all money is created from debt and we pay interest on every US dollar ever created to a PRIVATE corporation. The Federal Reserve! 

Until or unless the Tea Party gets behind the cuse of sound money and honest banking... all the rest is just spitting into the wind. 

Every policy... taxes... spending etc is all just tinkering with the knobs on a machine that OWNS you and it is run by the banks. 

Trust me when I tell you that you have all been duped by the banks... I know. I make software for Wall street and have been in this business for 13 years.  

Banking does not have fraud... banking IS fraud. 

Please... for the sake of your children, and your children's children stop this insanity NOW!

Comment by Steve Tikas on October 7, 2011 at 3:38pm

Yes Patricia on all accounts.  Well no I didn't know that the KKK was southern democrats but it doesn't surprise me.  I know, and have written comments here and on the other political sites, about how welfare has destroyed the black family. 

As you can tell from my picture I'm married to a black women so I see it first hand I don't have to look at stats or figures I just have to look at my wife's family.  All of the kids in the family (8 total) and the only three of them have biological dads that are in their live in any substantial way and my biological son is one, my step daughter's dad is in her life though she doesn't see him much because he is in the Navy, and the other one he would be better off if his father wasn't in his life.  If I stretch that out to her friend it is the same thing just with bigger numbers.

The race pimps that only claim to fame is they marched with MLK should all be ashamed of themselves for using his name to further their cause of dividing black and white.  We are all children of God and even MLK himself said that a man should be judged on the content of his character not the color of his skin.  White or black should not matter only how someone carries themselves and treats others that is all that matters to me.

I don't know if I understand why you brought that up.  I am not here to defend Democrats in any way.  I'm also not blinded to the fact that the GOP has done plenty of things that I would not consider right, just, or Constitutional. 

Comment by Patricia M. McBride on October 7, 2011 at 3:28pm

TA, well put!

Comment by JSC on October 7, 2011 at 3:27pm

We should NOT UNDERESTIMATE the "occupy" movement. They are backed with much clout. I do believe this was carefully planned when obama's #'s slipped beyond expected. Calls were made, subtle nudges were started, and the money poured. Legal or illegal, he will find the votes.

This man knows exactly what he is doing. He has been trained well, from birth. His record, albeit quite dubious, is impressive. He has almost taken this country down. Bought or taken over, (with our money) Healthcare, auto industry, banks, student loans, education, housing, and defense. Forgive me if I have left some out, my head started to hurt.

I am not a blogger, but perhaps someone could start a blog to teach the "occupy" crowd who they are really mad at, Barney Frank, Chris Dodd, Charles Schumer, Charlie Rangel, Tim Geithner......well, the list is endless, and a crap load of republicans as well. Right now the dems. are the focus.

 

 

Comment by Patricia M. McBride on October 7, 2011 at 3:27pm

Steve, there are some things planned that require that we work in unison.  Right now, the most important thing is getting some of the crew in Washington back in their homes on permanent leave.  That is the number 1 thing that needs doing, and we partner with many groups...........many groups.  The republicans are one such group.  No man is an island as you suggest.  What we don't need are the democrats!

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